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US Online Gambling Market to Grow 51% By 2020
WILL U.S. ONLINE GAMBLING MARKET GROW 51 PERCENT BY 2020?
New figures from research group Technavio make some bullish predictions.
A teaser press release from the independent research firm Technavio predicts that the online gambling market in the US will grow at an impressive CAGR (compound annual growth rate) of more than 51 percent between 2016 - 2020.
To calculate the market size, the report considers the revenue generated from legal online casino, betting, and lottery segments in the United States, along with primary market growth drivers, challenges faced by vendors and the market as a whole, and key trends emerging in the market.
In 2015, the US was ranked 8th in the global online gambling market, positioned after China, the UK, Australia, France, Italy, Germany, and Spain, Technavio claims, noting that whilst only three US states currently permit online gambling, more than five are likely to legalise the genre by 2020.
If online gambling is legalised, the tax contribution to the national revenue will grow significantly, and more joibs will be generated.
"The popularity of computing and mobile devices, especially among the younger generation, is the main reason for the extended reach of online gambling market in the US," Technavio reports.
"Mobile ads are one of the strongest mediums of advertising, which reaches the untapped group of the population that refrain from going to a casino or a bar where betting is allowed, and influences them to try online gambling."
The study found that in the United States, the average age of an individual visiting a casino is 45 years, whereas the average age of an online gambler is 34 years.
"The increasing presence of a younger population on the online gambling platforms will be one of the significant factors driving the growth of the market during the forecast period,” the research company opines.
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Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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